Expense Ratio History

PFRNX expense ratio history

Penn Capital Floating Rate Income Fund, Institutional Class

Fund company
RBB
Type
Mutual fund

1.11%

In basis points
111 basis points
Yearly cost per $10,000
$111
Prospectus dated
31 December 2022, filed with the SEC; rounded to 0.01%
Last change
Cut from 1.16% on 31 December 2022

Fee over time

PFRNX expense ratio: 3.44% until 31 Oct 2016, then 2.66%; 2.66% until 31 Oct 2017, then 1.83%; 1.83% until 31 Oct 2018, then 1.64%; 1.64% until 31 Oct 2019, then 1.43%; 1.43% until 31 Oct 2020, then 1.37%; 1.37% until 31 Oct 2021, then 1.16%; 1.16% until 31 Dec 2022, then 1.11%; read at 1.11% on 31 Dec 2022.0.00%2.00%4.00%6.00%Nov 2015Feb 2017May 2018Aug 2019Nov 2020Feb 20223.44% before1.11% from 31 Dec 2022
PFRNX expense ratio: 3.44% until 31 Oct 2016, then 2.66%; 2.66% until 31 Oct 2017, then 1.83%; 1.83% until 31 Oct 2018, then 1.64%; 1.64% until 31 Oct 2019, then 1.43%; 1.43% until 31 Oct 2020, then 1.37%; 1.37% until 31 Oct 2021, then 1.16%; 1.16% until 31 Dec 2022, then 1.11%; read at 1.11% on 31 Dec 2022.0.00%2.00%4.00%6.00%Nov 2015May 2018Nov 20203.44% before1.11% from 31 Dec 2022
Solid line: the fee in effect after each recorded change. Dashed: the fee before it. Dots: prospectuses filed with the SEC and dates we read the fee from a source.

Share classes

The same fund is sold as 2 share classes, each with its own fee. Figures are from each class's latest prospectus in SEC filings, rounded to 0.01%.

TickerShare classFeeAfter waiversProspectus dated
PFRNX (this page) Institutional Class 1.11% 0.64% 31 Dec 2022
PFRVX Investor Class 1.62% 0.89% 31 Oct 2020

Every figure we've recorded

DateFeeWhat happened
31 Dec 2022 1.11% In the prospectusTotal annual fund operating expenses in the prospectus dated 2022-12-31 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
31 Dec 2022 1.11% Cut from 1.16% to 1.11%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2023-01-05
31 Oct 2021 1.16% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-10-31 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
31 Oct 2021 1.16% Cut from 1.37% to 1.16%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2021-10-29
31 Oct 2020 1.37% In the prospectusTotal annual fund operating expenses in the prospectus dated 2020-10-31 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
31 Oct 2020 1.37% Cut from 1.43% to 1.37%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2020-10-30
31 Oct 2019 1.43% In the prospectusTotal annual fund operating expenses in the prospectus dated 2019-10-31 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
31 Oct 2019 1.43% Cut from 1.64% to 1.43%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2019-11-18
31 Oct 2018 1.64% In the prospectusTotal annual fund operating expenses in the prospectus dated 2018-10-31 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
31 Oct 2018 1.64% Cut from 1.83% to 1.64%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2018-11-08
31 Oct 2017 1.83% In the prospectusTotal annual fund operating expenses in the prospectus dated 2017-10-31 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
31 Oct 2017 1.83% Cut from 2.66% to 1.83%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2017-11-17
31 Oct 2016 2.66% In the prospectusTotal annual fund operating expenses in the prospectus dated 2016-10-31 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
31 Oct 2016 2.66% Cut from 3.44% to 2.66%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2017-08-07
20 Nov 2015 3.44% In the prospectusTotal annual fund operating expenses in the prospectus dated 2015-11-20 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 1.11% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$1,357 in fees over 10 years

After fees, $10,000 grows to $14,608.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$114
3 years$355
5 years$615
10 years$1,357

How we read this figure

The figure is the total annual fund operating expenses line of the fee table in the fund's prospectus, as tagged in the fund company's filing with the SEC. The SEC publishes these figures rounded to four decimal places, so 0.015% appears as 0.02%. The fund company's own page may show a more precise number.

SEC filings give 8 prospectuses for this share class since 2015. Each one is listed above with a link to the filing.

How we read fees

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